Thats why car insurance companies charge them three to four times more than they would.
What company has the best car insurance for teenage drivers independent source. While some savings remain nearly identical between insurers others may offer other types of reductions. Car insurance for young and teenage drivers can be more affordable because virtually every car insurance company offers some kind of discount. The key to finding cheap car insurance for teens is to get rate quotes from as many companies as possible.
In one example cited by Consumer Reports adding a 16-year-old driver to a married couples. Whereas a 50-year-old will pay 1723 per year for car insurance by themselves theyll pay an average of 3500 with their teen on the policy. We found an average insurance increase of 2072 a year for adding a teen driver among 93 car insurance companies we analyzed nationwide.
Even in states known for low car insurance. With that said here is our list of top ten car insurance companies for young drivers. Geico is the cheapest option for Florida parents adding a teen to their car insurance.
Progressive Progressive is a leader in the automobile insurance industry. Adding a teen driver to your car insurance policy can potentially raise your rates significantly anywhere from 20 to 180 depending on your state but it is always best to add your teen to your family policy rather than purchase a separate policy. Progressive was the first auto insurer to offer safe driver discounts which makes the company a great option for people with a good driving record who are looking for the cheapest car insurance.
Drivers aged 16 or 17 are nine times more likely to cause an accident than a 45-year-old driver. Discounts for young and teenage drivers. Progressive is an online-based auto insurance company that promises quality coverage and an abundance of discounts.